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Continental's Loss Narrows,
Amid Strong Holiday Travel

By

Scott Mccartney Staff Reporter of The Wall Street Journal

Updated Jan. 16, 2003 12:01 a.m. ET

Marking the start of what is expected to be a dismal reporting period for the airline industry, Continental Airlines narrowed its fourth-quarter losses on aggressive cost-cutting and strong holiday travel but expects the red ink to continue through this year.

With business travel still depressed, U.S. airlines are expected to collectively have suffered losses of more than $2 billion in the fourth quarter of last year, and at least $8.5 billion for all of 2002. What's more, higher fuel prices, the drumbeat of possible war...